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Vivek Raj, the founder of Panama Hydro-X, is investing Rs 214 crore in AI-enabled hydroponic farming in Karnataka, aiming to cultivate high-value spices and medicinal plants. Following a devastating drought that wiped out his crops a decade ago, Raj has developed four patented artificial intelligence technologies, spending Rs 146 crore on research. These innovations include systems for early disease detection and optimized lighting for photosynthesis, with patents granted in the UK, Germany, and Australia. The company plans to utilize 16 acres of farmland in Moodbidri, with the first commercial harvest expected in June 2027. During trials, the AI technology yielded 1,200 bags of ginger per acre, significantly outperforming traditional methods. Raj, who has a personal net worth of USD 700 million, aims to demonstrate commercial success before licensing the technologies, while also expanding his workforce in Mangalore. 
Published: Feb 16 2026, 6 pmeznews.inTVS Supply Chain Solutions (TVS SCS) has signed a Memorandum of Understanding (MoU) with Italy's ALA Group, a global aerospace and defence supply-chain integrator, to explore joint opportunities in the aerospace and defence sectors, particularly focusing on defence offset programmes. The collaboration aims to deliver integrated supply chain services throughout production and aftermarket lifecycles, initially targeting the Indian market with potential expansion to other regions. TVS SCS will leverage its extensive experience in defence and utilities from its UK operations, alongside its strong domestic presence in India, while ALA Group will contribute its global expertise and technology platforms. R. Dinesh, Executive Chairman of TVS SCS, emphasized the partnership's alignment with the company's strategy to enhance capabilities in complex sectors. ALA Group's CEO, Vittorio Genna, highlighted the collaboration as a foundation for sustainable growth in both civil and defence aerospace programs. Currently, TVS SCS generates around $140 million in annual revenue from these sectors, while ALA Group reported $345 million in 2024.
Published: Feb 16 2026, 8 pmeznews.inReserve Bank of India (RBI) Governor Sanjay Malhotra has urged micro, small, and medium enterprises (MSMEs) to formalise their operations, uphold credit discipline, and embrace digital payments to enhance their resilience and competitiveness. Speaking at a meeting in Mumbai with MSME representatives, Malhotra highlighted the sector's crucial contribution to India's GDP, exports, and employment. He reaffirmed the RBI's commitment to improving access to timely and adequate formal credit for MSMEs, which accounted for 33% of bank credit to the industrial sector as of December 2025. The Governor also discussed various policy measures implemented by the government and the RBI to support MSMEs. He noted that formalisation, which includes obtaining necessary documentation like PAN and GSTIN, can be achieved through the Udyam Assist Platform (UAP), enabling these enterprises to qualify for loans under priority sector lending norms.
Published: Feb 16 2026, 8 pmeznews.inFrench agritech startup Brad Technology is actively seeking an Indian partner at the AI summit to expand its farm advisory services, which it believes hold significant potential despite challenges posed by small land holdings. CEO Olivier Lepine emphasized the company's focus on developing low-cost IoT solutions to gather soil and air data, specifically tailored for the Global South. He aims to assist small farmers in navigating the uncertainties of climate change by providing actionable insights through a vocal AI system that supports agronomists. While acknowledging existing Indian agri-tech firms, Lepine insists that his startup's unique vision—"ground truth, global vision"—can help make technology more accessible and affordable for farmers. Currently, Brad Technology has covered 10,000 hectares in France and is piloting a project in Morocco, offering a subscription model priced at approximately $100 per year. The company is open to collaborations with Indian startups to enhance its offerings.
Published: Feb 16 2026, 8 pmeznews.inIndia's goods exports to China surged by 55.65% in January 2026, reaching $1.67 billion, while China remained India's largest source of imports, which rose 16.67% to $12.23 billion. This contributed to a widening trade deficit, which hit a three-month high of $34.68 billion, driven by a 19.19% year-on-year increase in imports to $71.23 billion, largely due to soaring gold and silver inflows. In contrast, overall exports grew only marginally by 0.61% to $36.56 billion, hampered by high US tariffs and global market volatility. Despite this, optimism remains as the US plans to reduce tariffs on Indian exports. Commerce Secretary Rajesh Agrawal projected total exports for the fiscal year to reach around $860 billion, with goods exports expected to be approximately $450 billion. The increase in gold imports, which soared by 349.22%, reflects inflated global prices, according to officials.
Published: Feb 16 2026, 8 pmeznews.inIndian customs officials have detained the Comoros-flagged vessel WIV Reyfa at Mumbai's Nhava Sheva port, suspecting it of misdeclaring the origin of nearly 310 containers of dry fruit, primarily walnuts, purportedly from Afghanistan. The investigation, initiated following a tip-off from the Department of Revenue Intelligence (DRI), has revealed a duty evasion of approximately ₹50 crore. One individual has been arrested in connection with the case. The DRI's findings suggest that unscrupulous importers have used forged transit documents to falsely claim the goods are of Afghan origin to exploit zero import duty benefits under the South Asia Free Trade Agreement (SAFTA). The circular from the Central Intelligence Unit highlights significant deficiencies in the shipping records, indicating deliberate falsification. Customs officials are now demanding bank guarantees equivalent to the value of the imports, while one importer has sought legal recourse from the Mumbai High Court.
Published: Feb 16 2026, 8 pmeznews.inIndia has seized three U.S.-sanctioned tanker ships linked to Iran—Stellar Ruby, Asphalt Star, and Al Jafzia—amid heightened maritime surveillance aimed at curbing illicit oil trade. The vessels, which frequently altered their identities to evade law enforcement, were intercepted approximately 100 nautical miles west of Mumbai after suspicious activity was detected in India's exclusive economic zone. This crackdown aligns with improved U.S.-India relations, marked by Washington's decision to reduce import tariffs on Indian goods from 50% to 18%, following New Delhi's commitment to halt Russian oil imports. The Indian Coast Guard has intensified its operations, deploying around 55 ships and 10 to 12 aircraft for continuous monitoring. The seized tankers are believed to be involved in complex ownership structures and mid-sea transfers, complicating enforcement efforts against sanctioned oil and fuel, which are often sold at steep discounts.
Published: Feb 16 2026, 7 pmeznews.inIndia's major steelmakers, including Tata Steel, ArcelorMittal Nippon Steel, and JSW Steel, are ramping up scrap-based production and green initiatives in response to the government's new green steel taxonomy. This initiative includes the introduction of star ratings based on carbon emissions, with the National Institute of Secondary Steel Technology overseeing the ratings. Tata Steel is expanding its recycling operations, with a new plant in Ludhiana set to begin production soon, while also exploring additional facilities in southern and western India. ArcelorMittal Nippon Steel has achieved notable ratings for its products and plans to establish more scrap processing centres to enhance quality. Meanwhile, JSW Steel is integrating hydrogen into its processes to cut carbon intensity and is developing a scrap processing facility in Maharashtra. The government is also mandating public sector undertakings to utilize certified green steel, further driving demand for sustainable practices in the industry.
Published: Feb 16 2026, 7 pmeznews.inElectricity consumption by data centres is set to more than double globally by 2030, soaring from 415 terawatt-hours in 2024 to 945 TWh, according to Rabobank's latest global greenhouse update. This surge is driven by the rapid expansion of data centres and the urgent need to address climate change, particularly in Asia, where AI infrastructure is growing. Rabobank suggests that integrating data centres with high-tech greenhouses could enhance energy efficiency and reduce carbon emissions by repurposing waste heat. As climate volatility increases, the demand for protected cultivation rises, with greenhouses providing insulation against extreme weather and ensuring stable yields. China is leading this trend, with its protected cultivation area expanding to 1.3 million hectares in 2022. Governments worldwide are prioritising self-sufficiency in fresh vegetables, a trend expected to continue, while the next phase of greenhouse growth in Asia will likely be driven by technology and infrastructure development.
Published: Feb 16 2026, 7 pmeznews.inUnion Minister of Electronics and Information Technology Ashwini Vaishnaw emphasized India's commitment to establishing a global consensus on artificial intelligence (AI) and copyright protection for content creators during a discussion at the India-AI Impact Summit. He highlighted the need for techno-legal solutions to balance innovation with intellectual property rights, noting that foundational AI models often draw from publicly available knowledge. Vaishnaw announced the upcoming launch of the "Create in India Mission," aimed at fostering a skilled talent pipeline and enhancing the creative industry. He also addressed the challenges posed by misinformation and deep fakes, urging collaboration among stakeholders to ensure technology builds trust. Furthermore, he stressed the importance of cultural context for global OTT platforms, advocating for adherence to local laws and customs. The Minister's remarks reflect a proactive approach to navigating the complexities of AI in the creative sector.
Published: Feb 16 2026, 7 pmeznews.inThe International Air Transport Association (IATA) has raised concerns over Mumbai International Airport's (MIAL) decision to suspend freighter flights for nine months starting August 2026, as part of a reconstruction project for the cargo apron. This suspension, which MIAL announced last December, is set to last until May 2027, prompting apprehension from both IATA and the Air Cargo Agents Association of India regarding its impact on cargo operations at India's second busiest airport. MIAL cited safety risks due to concurrent taxiway construction and mixed aircraft movements as reasons for the suspension, despite recent communications suggesting the apron remains operationally viable for another four years. While dedicated freighter flights will be halted, MIAL assured that cargo transported in passenger aircraft will continue without disruption, with Navi Mumbai airport expected to accommodate some of the freighter operations during this period.
Published: Feb 16 2026, 6 pm
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